Navan plows ahead with IPO during shutdown, aims for $6.45B valuation 

Corporate Travel Management Organization Navan – once known as Trips – File Updated IPO documents On Friday with the US Securities and Exchange Commission, the federal government is currently closed.

Navan is moving forward Under the new SEC rules It is to file updated information with the shares of government agencies in the Limbo during the shutdown, and their statements automatically correctly properly properly without investigating the staff within 20 days. Once the filings have been declared effective, Navan may turn off its roadshow. The rule, of course, does not mean that employees cannot ask questions or require revised filing later.

Navan refused to comment on TechCranch about its updated IPO documents.

The ongoing thought was that the shutdown would be cool and perhaps an IPO market frost was just a melting. Even with this rule, many companies will get green light from the employee rather than go alone, sources said, Bloomberg. So how will the Tech World look at Navan’s gambit fairs.

Navan’s updated filing found that the company planned to sell 30 million shares, the interior has sold additional million millions. It is priced at $ 24 to $ 26. On the high-end, the company will raise more than $ 960 million and will be worth $ 6.45 billion. Navan is supported by Lightspeed, Andresen Horovits, tongue Ventures and Greenokes.

According to the update filing, Navan earned 12-month income of $ 613 million (32%) 12-month’s income.